Exam (elaborations)
ASREB National Test A-3 Questions and Answers 2024
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ASREB National Test A-3
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ASREB National Test A-3When a person receives real estate through a will, this is called:
Demise
Bequest
Devise
Legacy - answer Devise
A quit claim deed would do which of the following:
Remove a cloud on a title
Deny the spouse an interest
Verify the tax liability
Establish a homestead - answer Remove the cloud on title
Which type of deed would have three promises and two warranties:
Special warranty
General warranty
Bargain and sale
Quit claim - answer General warranty
When a lessee is promised "quiet enjoyment", it means:
No sound would be heard between two walls
The lease will not be terminated if the property is sold
The area would be free of noise
No liens would exist on the property - answerThe lease will not be terminated if the
property is sold
When a document is recorded, what type of notice is given?
Actual
Constructive
Implied
Universal - answerConstructive
Quiet enjoyment is best described as a covenant in a
Bill of Sale
Not
Tax lien
Deed - answerDeed
An abstract of title is best described as
Quiet title suit
Certificate of sale
History of title
, Adverse title - answerHistory of title
In order to have a valid deed, the final step is:
Legal consideration
Signatures
Delivery
Acknowledgment - answerDelivery
The following is a type of Bargain and Sale deed
Sheriff's deed
Special warranty deed
Certificate of sale
Disclaimer deed - answerSheriff's deed
Who must sign a deed?
Grantor
Grantee
Grantor, Grantee, Broker
Escrow officer - answerGrantor
Who is covered by an ALTA policy?
Buyer
Seller
Beneficiary
Trustee - answerBeneficiary
Title insurance is paid
Annually
Monthly
Close of escrow
In budget payments - answerClose of escrow
Which of the following is voluntary transfer
Eminent domain
Warranty deed
Police Power
Attorney in fact - answerWarranty Deed
Which of the following would be a covenant in a deed?
Due on sale clause
Quiet enjoyment
Acceleration clause
Subordination of rights - answerQuiet enjoyment
When a grantor gives a covenant to the grantee promising that no liens exist against the
property except those revealed, this is known as
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